US Ups Military Spending Despite Deficit

The United States spends more on its military than any other country in the world despite the country's growing budget deficit, a research organization reports.

"The United States has increased its military spending by 81 percent since 2001," Stockholm International Peace Research Institute (SIPRI) reported.

Other reports say the US -- with its costly military operations in Afghanistan and Iraq -- has increased spending by nearly 3 percent.'

Read more...